|R3||110.15||**||61.8% ret of Mar-Apr fall||S2||108.34||*||7 May (w) low|
|R1||109.79||*||13 May (w) high||S4||107.75||**||38.2% ret of Jan-Mar rally|
Asterisk denotes strength of level
13:25 BST - Choppy gains have faded below 109.50, with prices now once again balanced around 109.00. Intraday studies are mixed/negative, and daily readings continue to track lower, highlighting fresh downside development in the coming sessions towards the 108.34 weekly low of 7 May. Negative weekly charts point to further slippage towards critical support at the 107.75-108.00 area. Meanwhile, resistance remains at the 109.79 weekly high of 13 May. An unexpected close above here will turn price action cautiously Positive and extend April gains towards 110.00/15.